Turnover rises in NSE F&O segment

Significant call unwinding at 12,000 strike price

The Nifty November 2019 futures were at 12,102.75, a premium of 23.75 points compared with the Nifty's closing of 12,079 in the cash market.

Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 10.97 lakh crore compared with Rs 7.66 lakh crore reported in the previous session.

In the cash market, the Nifty 50 index rose 164.60 points or 1.38% to 12,079.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.87% at 15.0025.

On the options front, the Nifty option chain for 28 November 2019 expiry showed maximum call open interest (OI) of 29.77 lakh contracts at the 12,000 strike price. Decent call writing was witnessed at 12,250 strike price, which added 3.36 lakh contracts. Significant call unwinding was seen at the 12,000 strike price, which shed 18.94 lakh contracts.

Maximum put OI of 50.47 lakh contracts was seen at 11,500 strike price. Significant put writing was seen at the 12,000 strike price, which added 30.46 lakh contracts. Significant put unwinding was witnessed at 11,650 strike price, which shed 2.72 lakh contracts.

Options data suggested 12,000 as a crucial support level for the Nifty.

HDFC, Reliance Industries and State Bank of India were the top traded individual stock futures contracts in F&O segment of NSE. HDFC November 2019 futures were at 2,297.55, compared with spot closing price of 2,294. Reliance Industries November 2019 futures were at 1,562.90 compared with spot closing price of 1562. SBI November 2019 futures were at 336.50, compared with spot closing price of 336.

The November 2019 F&O contracts expire on 28 November 2019.

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